Land

• The limited supply of natural resources.
• Land is paid for using rent.

Labor

• The interaction of male and female workers (human resources) with either of the other two resources in order to create something.
• Laborers are paid in wages.

Capital

• A tool that is used to create a good or service while not being consumed itself (although it may lose monetary value)
• Capital must be paid interest for its use.

Entrepreneurship

• The creative and innovative person that comes up with an efficient way to combine the other three factors in order to create an economic good.
• Entrepreneurs receive profit for their efforts.